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Pennantpark Floating Rate Capital Ltd Announces Public Offering

Monday, 15 Jul 2013 04:06pm EDT 

Pennantpark Floating Rate Capital Ltd announced that it plans to make a public offering of 4,700,000 shares of its common stock. The Company also expects to grant the underwriters an option to purchase up to an additional 705,000 shares of common stock to cover over-allotments, if any. The offering price of the shares, subject to the approval of the Company's Board of Directors, will be determined by market conditions at the time of pricing in consultation with the underwriters of the offering. The offering of the shares will be made under the Company's shelf registration statement, which was filed with, and has been declared effective by, the Securities and Exchange Commission. The Company expects to use all of the net proceeds from selling securities pursuant to a prospectus supplement to reduce outstanding obligations under its credit facility, invest in new or existing portfolio companies or for other general corporate or strategic purposes. Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and Keefe, Bruyette & Woods, Inc. are acting as joint bookrunning underwriters. 

Company Quote

-0.05 -0.35%
4:00pm EDT